OK, in this tutorial, you will learn how to give text a reflection.
Step 1:
To begin, make an image and add some text.

Step 2:
Now, go to Layer -> Duplicate Layer, and move the copy right under the original, so it looks something like this:

Step 3:
Now press Ctrl + T and right-click on the text, and then click on Flip Vertically, and move it so the two text just touch on the bottom, should have something like this:

Step 4:
Now, press Ctrl + T again, and click on Distort. Now hold Ctrl and move the points so you end up with something like this:

Step 5:
Now, get the Rectangular Marquee Tool and select 1/2 of the "Refection" text.

Step 6:
Now, right click on the selected area and click on Feather. Enter a number of 10 px, click ok, then hit Delete. Should end up with a final result like this: